OSL a small company from East India

1. For over4 decades,OrissaStevedoresLimited,one of the leadingfirmsof EasternIndiaanda
flagshipcompanyof the OSLGroup, has beenexcellinginthe fieldsof shipping,mining,logistics,and
exports.They we carry outerudite cargohandlingequipmentinportsall aroundthe world.Fromdry
bulkand containerizedtodimensional,breakbulk,andprojectcargo,we have the expertiseto
handle all typesof cargo. It has strong presence atall the majorand minor eastcoast parts of India.
The company isinfollowingactivities –
Amonglarge costs are –
a. Employee Costs - ~29% of costs
b. TransportationCosts ~33% of costs
Overthe last yearthere has beenrepaymentof loans
FY21E numbersare higherdue to higher otherincome
Interestcostsseemhighat20% of outstandingborrowings(possible bankchargesabddiscounting
costs)
ROE is lowat 6% ROIC isdecentat 17%
Large investmentshave adrag onreturn ratios – large part insubsidiarythatholdsGopalpurJetty
There isan itemlinkedwithprepaymentof OFCDthat inflatesbalance sheet(canbe nettedfrom
NW)